The main financial institutions were closed on Monday. Commonwealth Bank shares fell 0.6 percent to $ 68.50, Macquarie group shifted 2.3 percent to $ 116.23, ANZ closed 0.8 percent to $ 25.16, Westpac shifted 0.6 percent to $ 25.6 USD 12 and NAB closed with USD 23.58, down 0.8 percent.
Viva Energy lowered its forecasts for the financial year 2018-19, announcing its basic profits on the market before deducting interest, taxes, depreciation and reductions by USD 62.1 million in relation to expectations.
The company cited higher crude oil prices and the weaker Australian dollar as the key reasons for price reductions that exerted pressure on margins in the refining industry and limited demand in retail operations. His shares fell by 12.2 percent to USD 1.80.
Medibank Private shares decreased by 6.1% to USD 2.60 after the company announced that it had lost a contract with Garrison Health Services to provide private health insurance to 80,000 members of the Australian armed forces. The insurer has a large impact on earnings when the current contract ends on June 20, 2019.
Shareholders of Fairfax Media voted for the merger with Nine Entertainment on Monday.
Fairfax investors gave 81.44 percent. Shares cast in favor of mergers, and 18.5 percent. Voted against the merger. The transaction still requires the consent of the Federal Court on November 27. Fairfax Media shares rose 2.4 percent to 63 ¢, Nine Entertainment closed 1.8 percent more, $ 1.66, and Fairfax's Domain Holdings majority rose 4.7 percent to $ 2.46.
Cleanaway Waste Management shares increased by 6.3% to USD 1.86. The Credit Suisse report concluded that the waste management sector, in particular Cleanaway, would benefit from a national waste management strategy that the federal government prepared to issue a national waste policy by the end of the year.
Time for a watch
UBS believes that G8 Education is starting to recover after a difficult year for a child care provider. In the last 12 months, the company's share price has fallen by more than half before leaving in the last four weeks. Makler said the supply is likely to be tight for the company in 2019, but recent trade suggests that "self-help" initiatives are gaining in importance. G8 lowered its financial forecasts in the latest update, but analysts from Tim Plumbe said there were positive signals and underlying transactions improved. He noted that, like the increase in occupancy, it was ahead of the previous period, and wage pressure probably stabilized. UBS raised the target price on G8 Education from USD 2.55 to USD 3.20 and kept the "buy" rating in the company.
What moved the market
Oil yield in the USA
The US administration for energy information said it expects oil production in all major shale basins in the US to increase by December. It is expected that the bases for Permian, Balkan, Ford Eagle, Niobary, Anadarko and Applachii will increase capacity. These pools (along with Haynesville) have been responsible for almost all US oil production growth since the end of December 2015. The Energy Information Administration expects production to increase by 16.5 percent to 10.9 million barrels a day this year, before 10.6 percent next year. There are also outstanding oil wells that have not yet been completed, and their number is still growing.
the iron ore
Iron ore prices were lifted on Friday, hitting demand from the bad week, as steel restrictions in China eased. Chinese steel products, which will decrease from mid-November to mid-March, are likely to be less severe due to the fact that there are still mills with high power utilization in the north of China. However, the exact limits of sintering and steel production are still unclear. The market is also shifting to iron ore of lower quality due to lower steel prices, weighing the margins of steel mills. In recent months, China has favored higher quality ores because of environmental problems.
The US dollar could be strengthened this week due to concerns about the future of the trade agreement between China and the US. During the weekend APEC summit there was increased tension between the US vice president, Mike & # 39; Pence & # 39; em and Chinese president Xi Jinping. Investors were more optimistic at the beginning of the weekend after US President Donald Trump said that China wanted to reach a trade agreement even though four key elements were missing in China's latest response to US demands. The US dollar is doing well this year in the period of increased trade tensions when investors are looking for a safe haven
GDP in New Zealand
Capital Economics forecasts that GDP growth in New Zealand will slow down in the next two years, when net migration will begin to fall. Net migration has been a key driver of GDP growth for the country over the past few years. "Changes in policy and narrowing the relative attractiveness of Australia and New Zealand will slow down net migration to New Zealand," said economist Ben Udy. "The slowdown in net migration will cause a drop in consumer investment and housing investment, and is one of the main reasons for the slowdown in GDP growth from 2.7 percent this year to 2 percent by 2020."
William is a graduate of UTS journalism and has worked at The Sydney Morning Herald. Currently, it covers markets in AFR and closely follows IPO.